The wealthy don't care, as they get enormous income given to them as a welfare subsidy giveaway.Of note it also taxes the wealthy that may today, by choice, have zero income because they no longer require income to live on.
"Turning $100 into $200 is work. Turning $100 million into $200 milion is inevitable." -- Canadian billionaire Samuel BronfmanA person with $100 million in the bank really doesn't require any income at all as they could live like a virtual king for the rest of their life without income.
But they can spend it in other countries, untaxed, and get it through ownership of assets in the USA, untaxed. Thus paying no tax at all, anywhere, ever. Which is the actual intended result of the despicable "Fair"Tax nonsense.They'll still spend money but have no need to earn it.